Erstellt von Jamie Plym
vor etwa 3 Jahre
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Frage | Antworten |
Conversion cost | Direct labor cost plus manufacturing overhead cost. |
Equivalent units | The product of the number of partially completed units and their percentage of completion with respect to a particular cost. Equivalent units are the number of complete whole units that could be obtained from the materials and effort contained in partially completed units. |
Equivalent units of production (weighted-average method) | The units transferred to the next department (or to finished goods) during the period plus the equivalent units in the department’s ending work in process inventory. |
FIFO method | A process costing method that calculates unit costs based solely on the costs and outputs from the current period. |
Operation costing | A hybrid costing system used when products have some common characteristics and some individual characteristics. |
Process costing | A costing method used when homogeneous products are produced on a continuous basis. |
Processing department | An organizational unit where work is performed on a product and where materials, labor, or overhead costs are added to the product. |
Weighted-average method | A process costing method that calculates unit costs by combining costs and outputs from the current and prior periods. |
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